Ict/Telecom
ICT: Anambra Targets 1,000 Digital Entrepreneurs To Boost Economy
No fewer than 1,000 youth from different walks of life in Anambra State will benefit from the Digital Entrepreneurship training programme organised by the state government.
The state Deputy Governor, Dr Nkem Okeke, made the disclosure at the inauguration of the maiden Anambra DigiPrenueur Week tagged ‘The Next Level’ in Awka on Monday.
Okeke said the programme was in line with Gov. Willie Obiano’s programme for the youths.
The deputy governor said that business had moved from archaic brick and mortar approach to modern information driven system.
He said that Obiano remained the most youth friendly governor with over 65 per cent of them as appointees of his government and some of the youngest commissioners in the country.
The deputy governor expressed the hope that with the training and subsequent mentorship, Anambra would raise the pool of entrepreneurs that would dictate the pace in the digital world.
In his remarks, Mr Ifeanyi Aniagor, Senior Special Assistant to the governor on Youth Empowerment and Digital Entrepreneurship said that the programme was meant for youth including employed and unemployed graduates.
Aniagor said that it also included undergraduates and any other interested persons who wished to explore business opportunities available in the digital world.
He said that there were lots of opportunities for internet users to make good business but decried that the right attitude and environment had not been created for them to earn legitimately.
The governor’s aide said that the training was free with digital tools of over N2 million for distribution to outstanding trainees with mentoring of not less than six months.
“Through this DigiPrenueur campaign, we will teach people what and how to rightly use the digital space; it focuses on self development, value reorientation and digital skills development.
“Through creating digital entrepreneurs, we wish to eradicate unemployment, insecurity, end internet fraud also have youths who will dominate the age of digital economy,” he said.
Also speaking, Mr Celestine Achi, Chief Executive of PR -wire said digital sector was a sure way to go in the post recession economy of Nigeria.
Achi, who is one of the resource persons at the training, commended Obiano for creating the enabling environment that encouraged people to seek and exploit opportunities in the Information Technology sector.
He said that his firm would empower successful trainers with about 500 units of digital tools.
In his remark, Stanley Uzochukwu, the Chief Executive Officer of Stanel World, Awka said it was time that youths were positioned to take their place in the information age.
Uzochukwu who is a major partner in the project urged participants to take the training seriously as leading social media, digital and information technology entrepreneurs have been invited to deliver hands-on practical lectures.
The Managing Director, Shell Nigeria Exploration and Company Limited (SNEPCo), Elohor Aiboni, said Bonga, Nigeria’s first deep-water asset, has recorded major milestones, due to effective leadership, cutting-edge technology, continuous improvement and collaboration with stakeholders.
She noted that since coming on stream in November 2005, Bonga has maintained a track record of production that saw it achieve one-billion-barrel export on February 13, last year.
In her presentation, titled “The Bonga Journey to a Billion Barrels”, at the ongoing 2024 Offshore Technology Conference in Houston, Texas, United States, Aiboni, said: “SNEPCo is grateful for the contributions of all the parties to the Bonga story and we can all be proud of the milestones.
“Bonga has been consistent. In 2014, nine years after coming onstream, it achieved half a billion barrels of crude and doubled it in 2023. We have worked relentlessly to ensure excellent asset management, project and wells delivery and deployment of technology and innovations in our operations”.
According to her, these factors, “coupled with the supportive partnership of the Nigerian National Petroleum Company Limited and our co-venturers – TotalEnergies, EP Nigeria Limited; Nigerian Agip Exploration; and Esso Exploration and Production Nigeria Limited, make Bonga stand out as a world-class investment case”.
She continued that, “SNEPCo also enjoyed the support of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) and the Nigerian Content Development and Monitoring Board (NCDMB) in the success of Bonga operations”.
Aiboni also listed the challenges of keeping the Bonga Floating Production, Storage and Offloading vessel full as the asset ages and dealing with unexpected developments with subsea wells and equipment.
She said: “SNEPCo responded with a campaign of operational excellence, which among other initiatives, led to the creation of a programme known as the Bonga Business Improvement Plan that continually reviews and identifies improvement initiatives and drives sustainability in operations and upskilling of staff.
“The Bonga success story has been led by Nigerians who have been managing directors of SNEPCo since it was established in 1993, in a deliberate policy by Shell to develop indigenous manpower for deep-water operations in Nigeria.
“Today, some 97percent of the SNEPCo workforce is Nigerian and overall, Bonga has helped to create a new generation of Nigerian deep-water professionals.
“Our vision at SNEPCo remains to be the best deep-water business, powering growth and achieving net zero emissions in line with Shell’s Powering Progress strategy”.
Banks’ borrowings from the Central Bank of Nigeria (CBN) fell month-on-month, (MoM) by 44 percent to N12.16 trillion in April from N21.7 trillion in March.
Analysis of latest data from the CBN shows that the 44percent drop represents the first MoM decline in banks borrowing from since January when it increased by 268.7 percent to N3.6 trillion from N976.29 billion in December 2023.
However, further analysis showed that banks’ deposits in the CBN SDF grew MoM by 118.4 percent to N428.97 billion in April from N196.37 billion in March 2024.
Banks make use of the SLF to access liquidity to run their day-to-day business operations while the Standing Deposit Facility window (SDF) on the other hand, is an overnight deposit facility that allows banks to lodge excess liquidity (money) with the CBN and earn interest.
The decline in banks’ borrowing from SLF may reflect an increase in banking system liquidity and also the decision of the apex bank last year to remove the limit on the remunerable daily placements by banks at the SDF.
According to the CBN Governor, Mr. Olayemi Cardoso, the CBN removed the cap on the remunerable SDF to increase activity in the SDF window and manage liquidity.
A Financial technology expert, Olatunji Akinrinola, has highlighted the exponential growth of the FinTech industry, which according to him, was driven by technological advancements.
Akinrinola made this assertion in a press release recently, where he stressed that the role of technology in driving this exponential growth in the FinTech sector was very outstanding.
According to him, Technology has revolutionised the way financial services are delivered, making them more accessible, efficient, and inclusive.
“Through innovations such as mobile banking, digital payments, and blockchain technology, FinTech companies have been able to reach a larger population and provided them with access to financial services”, he stated.
Akinrinola emphasised the role of technology in enabling financial inclusion, adding: “Technology has democratised access to financial services, particularly in regions with limited banking infrastructure.
“Mobile money platforms and digital wallets have empowered individuals to conduct financial transactions conveniently and securely, without the need for traditional banking services”.
He also underscored the role of Artificial Intelligence (AI) and data analytics in driving innovation within the FinTech industry, noting: “AI-powered algorithms and predictive analytics have revolutionised risk assessment, fraud detection, and customer personalisation in financial services.
“These technologies enable FinTech companies to provide tailored solutions and mitigate risks more effectively, ultimately enhancing the overall customer experience”.
Akinrinola stressed the importance of regulatory frameworks in fostering the growth of the FinTech industry.
“While technology has accelerated the growth of FinTech, it is essential to establish robust regulatory frameworks to ensure consumer protection and maintain market stability. Regulators play a crucial role in balancing innovation with risk management, thereby creating a conducive environment for the sustainable growth of the FinTech sector”, he stated.
Akinrinola underscored the role of technology in driving the exponential growth of the FinTech industry, saying, “Technology has been a game-changer for the FinTech sector, enabling innovation, expanding access to financial services, and driving economic growth.
“As technology continues to evolve, the FinTech industry will undoubtedly play a significant role in shaping the future of financial services ecosystem”.
Corlins Walter